What is Lease Extension Form?
The lease is granted to the lessee for the limited period of time. When this time is over, the lessee may want to apply for the extension of the lease. For this purpose, the lease extension form is needed. In order to apply for the extension of the lease, a lessee may have to get the lease extension form. This form serves as an application for the extension. Sometimes, it is mentioned in the lease agreement that the lease will automatically be extended after the end of the lease, however, if it is not mentioned, then you may have to request for the extension through the lease extension form.
The extension of the lease can be monthly or yearly. The landlord and the lessee like to have the extension of long duration to save time. There is no need to design a new document for the extension rather some modifications are made in the original document and the lease is extended. The new document is not required to be designed, however; there is a need to have a lease extension form.
The important parts of the lease extension agreement form are the sections based on the information of the landlord and the tenant. The number of landlords, the address of the landlord, contact details and some other details are included in the form. The number of tenants, their home address and contact details are also added in the form.
The form also includes the information about the leased land. It clearly states whether the land which is being used to lease is commercial or residential. It also includes the details like for how much time it was leased first and how much extension is requested by the tenant is also mentioned in the lease extension form. The form clearly elaborates all the information and leaves no confusion.
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